Franchise Brands (LSE:FRAN) is well positioned for a full-year performance within the current range of analysts' forecasts after System sales reaccelerated to 4% in the first quarter, in an AGM trading statement.
System sales growth of 4% in Q1 (FY 2025: 2%) reflected a return to growth across all B2B divisions, supported by a strong US showing and signs of recovery in Europe.
Filta International in North America was the standout, with Q1 System sales up 12% in local currency and 5% in Sterling, a strong take-up of the new FiltaClean Pro service and used cooking oil (UCO) sales up 35% in local currency (27% in Sterling) driven by a 13% volume rise and a 20% price increase.
The Water & Waste Services division delivered System sales growth of 8% in Q1 (FY 2025: 0%), led by Metro Rod's shift to higher‑quality, higher‑value work and a catch-up of jobs deferred from Q4 2025, while Willow Pumps grew through Special Projects work.
Pirtek's eight European markets saw System sales up 2% in Q1 (FY 2025: 1%), with a noticeable improvement in March particularly in Germany and Benelux offsetting weather-affected trading earlier in the quarter.
The group cited analysts' current expectations of Adjusted EBITDA of £35.9m to £38m for the year ending 31 December as the reference range for its full‑year positioning.
"Filta International remains the standout performer, with a strong underlying performance and robust UCO volumes and pricing," said Stephen Hemsley, Executive Chairman.
